ABSTRACT: This comment on a forthcoming article by Keith Hylton and David Evans
explains why considerations of "dynamic competition" do not argue
against antitrust enforcement. While the prospect of achieving monopoly
may foster innovation, that observation misleads as to appropriate
antitrust policy unless qualified by the observation that the push of
competition generally spurs innovation more than the pull of monopoly.
Moreover, the longstanding doctrinal rule that mere monopoly pricing is
not illegal should not be read as demonstrating that antitrust law
values monopolies for their role in promoting innovation.